Chip Stack Management

Managing your chip stack refers to maintaining control of the number of chips you have in relationship to the other poker players at the table. The first consideration when starting play at a new table is how many chips other players have at the poker table. This is an important factor to consider when buying in to a new cash game or when you are moved to a new table during a poker tournament. In order to develop the best strategy for success, you should be aware at all times of each player’s chip count in relationship to your stack. If you are playing in a multi-table tournament, this includes following the leader board which usually reflects large, average and short chip calculations.

Playing a Large Chip Stack

Once you have accumulated a lot of chips, you are in a position to intimidate other players at the table. Players with fewer chips are fearful of putting their chips at risk against you, especially in a poker tournament where one false move could lead to their elimination. By having a large chip stack, you have many more options for mixing up your game. The following are helpful tactics when playing a large chip stack:

• Raise players with medium chip stacks who are not in a position to tangle with a large chip stack and risk elimination.
• Beware if the player with a medium chip stack re-raises you.
• Do not play poor starting hands simply because you have the chips to afford to do so.
• Do not call a short stack all-in without a very good hand, knowing that he will likely hold a strong hand if putting all of his chips at risk.
• Maintain selective aggression – any hand worthy of calling is worthy of raising, especially from late position.
• Be cautious when the second largest stack at the table is playing a hand aggressively against you or cold calling your bets in a hand. You are likely up against a very big hand.

Playing a Medium Chip Stack

Maintaining a medium or average chip count may provide the illusion that you are not at danger of being eliminated in a poker tournament or going broke in a cash game. However, keep in mind that even by flying under the radar, you could tangle with the wrong player and lose all of your chips at any time. This is the most important time in a poker game to stay focused and not waste chips or you may quickly find yourself as the short stack. The following are helpful tactics when playing a medium chip stack:

• Be selective about the pots you enter – you don’t have to win all the chips in one hand.
• Play the pots that you do enter offensively and be satisfied to win small or medium sized pots that over time will propel you into contention.
• Raise other medium stack players, but be cautious if you are re-raised since they too are in no position to waste chips with inferior hands.
• Do not double up a short stack by calling all-in with a marginal hand.
• Do not be afraid to raise the chip leader who has likely targeted you.
• Reduce your starting hand requirements for multi-way pots that provide high implied odds if you hit your hand on the flop.
• Do not waste chips by bluffing into a multi-way pot if you have no chance of winning at showdown.

Playing a Short Chip Stack

When you are the short stack at the table, the next hand you play could be your last hand. The goal at this point is to double up through another player, or put yourself in a position to accumulate chips from multiple players in one hand. A standard short stack is 10 times the big blind. If you are playing in a tournament, factor the late tournament ante’s into the calculation. If you let yourself fall below five times the big blind, you are extremely short stacked and have essentially lost any leverage you have for forcing other players to fold hands to you. Here are a few tactics to consider when playing a short stack:

• Do not bet a portion of your chips that would price the blinds or limpers into calling you – pick a good starting hand and bet all of your chips pre-flop.
• Don’t call an all-in without a very good starting hand.
• Any Ace or pair is worthy of going all-in if you are first to enter the pot as a short stack.
• Target other short stacks at the table who are also waiting for an all-in hand.
• In a tournament, if you are at risk of falling below five times the big blind in chips, any two cards are worthy of going all-in in late position if you are the first to enter the pot.
• Put yourself in contention by playing multi-way pots with live cards such as connectors, i.e., 67, 78, J9. You likely will not have the best hand pre-flop, but it’s the best value for your money. You could be eliminated, but you could quadruple your chip count in a multi-way pot and move up to a medium stack.

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Hand Example – Taking on the Large Stack with Caution

• No Limit Hold’em Tournament Play
• Blinds: 100/200
• Large stack has 8,500, average stack is 5,000, short stack has 1,400

Pre-flop

One player with an average chip stack limps in front of you and the large chip stack raises to 600. With an average chip stack of 5,000, you look down to find 99:

Figure 1

You must make a decision as to whether to raise the large stack, who has raised a lot of pots. While deciding you notice the first player to call has been playing very conservatively, and has not entered many pots. You decide to call with the knowledge that you must fold if the player in first position re-raises. After you call the blinds fold, the player in first position simply calls. There are three players in the pot.

The Flop

The flop is 5J6 with 2,100 in the pot. The player in first position checks, the large stack bets 1,200 and action is to you:

Figure 2

You can assume that the flop did not help the player first to act. His conservative style reveals that he would not have called a raise in early position with a small pair or AJ. You surmise that the large stack, who was not re-raised pre-flop, made an automatic bet. Your best option is to either fold or raise. You can assume that the large stack would raise pre-flop with any pair, connected cards or high cards. You decide to raise to 2400, knowing that if either player re-raises you will have to muck your cards and adjust to short stack strategy. The first player immediately folds and the large stack reveals KQ and folds. By properly assessing the situation and playing accordingly, you are now the large stack at the table.

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